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We are running Oracle Applications 11.0.3 on 8.0.6. The following is the error from the log for a request submitted. We know that our Shared pool size is fine. Right now 95% is being used.

ERROR at line 1:
ORA-04031: unable to allocate 12 bytes of shared memory ("shared pool","SELECT "
REQUISITION_NUMBER",...","sql area","logdef :
kkobrfio")
ORA-02063: preceding line from EPROD1_LINK
ORA-06512: at line 104
ORA-06512: at line 188
ORA-06512: at line 2048

According to the Oracle error message more shared memory is needed than was allocated in shared pool:

The documeted error text states:

If the shared pool is out of memory, either use DBMS_SHARED_POOL package to pin large packages, reduce your use of shared memory or increase the amount of shared memory by increasing the value of the initialisation parameters SHARED_POOL_RESERVED_SIZE and SHARED_POOL_SIZE.
If the large pool is out of memory, increase the initialisation parameter LARGE_POOL_SIZE.